Matterport (NASDAQ:MTTR) Sees Large Volume Increase - What's Next?

Matterport, Inc. (NASDAQ:MTTR - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 1,832,062 shares were traded during trading, a decline of 20% from the previous session's volume of 2,297,235 shares.The stock last traded at $4.72 and had previously closed at $4.96.

Matterport Price Performance

The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of -5.84 and a beta of 1.05. The stock has a 50 day moving average price of $4.81 and a two-hundred day moving average price of $4.56.

Matterport (NASDAQ:MTTR - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). The company had revenue of $43.79 million during the quarter, compared to the consensus estimate of $43.91 million. Matterport had a negative return on equity of 32.19% and a negative net margin of 157.21%. Matterport's revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.04) EPS. As a group, research analysts expect that Matterport, Inc. will post -0.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Raymond J. Pittman sold 358,607 shares of the business's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $4.73, for a total transaction of $1,696,211.11. Following the completion of the transaction, the chief executive officer now directly owns 4,176,241 shares of the company's stock, valued at approximately $19,753,619.93. The trade was a 7.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Japjit Tulsi sold 85,015 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $4.73, for a total transaction of $402,120.95. Following the sale, the chief technology officer now owns 608,744 shares in the company, valued at $2,879,359.12. The trade was a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 645,163 shares of company stock valued at $3,051,621 in the last ninety days. Company insiders own 17.50% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Matterport by 7.8% in the 3rd quarter. Geode Capital Management LLC now owns 6,534,162 shares of the company's stock valued at $29,410,000 after acquiring an additional 471,641 shares during the last quarter. Magnetar Financial LLC purchased a new position in Matterport in the second quarter valued at approximately $27,598,000. Millennium Management LLC raised its holdings in Matterport by 142.3% during the second quarter. Millennium Management LLC now owns 3,021,453 shares of the company's stock worth $13,506,000 after purchasing an additional 1,774,442 shares in the last quarter. Water Island Capital LLC purchased a new stake in shares of Matterport during the 2nd quarter worth approximately $11,722,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Matterport by 14.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,312,945 shares of the company's stock valued at $10,408,000 after buying an additional 288,544 shares in the last quarter. Institutional investors and hedge funds own 36.96% of the company's stock.

About Matterport

Matterport, Inc, a spatial data company, focuses on digitization and datafication in the United States and internationally. The company offers Matterport Capture Services, a fully managed solution for enterprise subscribers; Matterport Pro3, a 3D camera that scans properties; Matterport Pro2, a 3D camera that captures spaces; LEICA BLK360, a device to create digital twins; Smartphone Capture, a smartphone capture solution for both iOS and Android; and 360 Cameras.